Cement manufacturers lead in industrial goods
The industrial goods sector recorded a total turnover of N98.14 billion in Q1‘17, showing an increase of 63.23 per cent against the corresponding period of 2016.
Further breakdown showed that Lafarge Africa Plc led the sector in absolute figures delivering N81.3 billion in Q1, 2017 and accounted for 83 per cent of the sector’s turnover.
This was followed by Ashaka Cement at N8.8 billion, accounting for 9 per cent of the sector’s turnover, while Sokoto Cement recorded N4.4 billion, accounting for 4.5 per cent of the sector’s turnover On percentage terms, Ashaka Cement led turnover growth rate, rising by 144 per cent to N8.8 billion in Q1 2017.
It was followed by Lafarge Africa, up by 55 per cent to N81.3 billion. The Paint and Coating Manufacturers Plc occupied the third position, rising by 24 per cent to N888 million.
In terms of PBT, the Industrial Goods sector recorded a total of N12.6 billion, showing a growth rate of 276 per cent from N3.36 billion in Q1 2016.
Lafarge Africa led the sector profitability in absolute figures with N9 billion and accounted for 71 per cent of the sector’s PBT.
Trailing behind is Ashaka Cement with N2.4 billion, accounting for 19 per cent of the sector’s PBT, while Sokoto Cement occupied third position, accounted for 5.4 per cent of the sector’s pre tax.
On percentage terms, Ashaka Cement led, rising by 722 per cent in Q1 2017 PBT. It was followed by Lafarge Africa rising by 350 per cent, while Sokoto Cement occupied third position on the chart, rising by 92 per cent.
The Agric sector recorded a total turnover of N9.7 billion in Q1’17, representing an increase of 70.2 per cent from N5.7 billion in Q1 2016.
Three leading companies in the sector captured in this batch of analysis included Livestock Feeds Plc, Okomu Oil Plc and Presco Plc. Okomu Oil Plc led the sector in absolute turnover figure at N5.9 billion accounting for 61 per cent of the total sector turnover.
It was followed by Livestock Feeds with a turnover of N3.1billion, accounting for 32 per cent of the sector’s turnover, while Presco recorded N700 million, accounting for 7 per cent of the sector’s turnover.
On percentage growth in turnover, Presco led the sub sector with a growth rate of 133 per cent, followed by Okomu Oil, up by 79 per cent, while Livestock Feeds occupied the third position recording 48 per cent increase in turnover.
On profitability, Okomu Oil led the sector recording N3.4 billion and accounting for 82 per cent of the sector’s profit, followed by Livestock Feeds with N26 million, accounting for 6 per cent of the sector’s PBT.
On percentage terms, Livestock Feeds led the sector growing profit by 767 per cent, followed by Presco with a growth of 150 per cent, while Okomu Oil grew by 113 per cent.